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Finances, Flexibility and a Little Bit of Faith

What It Takes to Start a Home-based Business

By Melissa Granberry

All Aboard

When starting a business at home, the whole family is affected and should be included in the planning phase. "A well thought-out strategy is one way that a woman can obtain her husband's 'buy-in'," says Keitt. "If he sees that she is serious and has accounted for his concerns, it should ease the transition as she endeavors to branch out on her own."

And don't forget to include the kids. "I found it extremely helpful as my children were growing to include them in tasks associated with my business, such as stuffing envelopes and packing boxes," says Keitt.

Vernon suggests setting a schedule that sets aside time each day for your family and your business. "Everyone should understand that this is a give-and-take situation," she says. "Not only will your added income contribute to your family finances, you will feel satisfied as an individual. The better you feel about yourself, the more your family will benefit."

"The Small Business Administration (SBA) has all kinds of help for women entrepreneurs," says Keitt. Log on to www.sba.gov to find information on obtaining financing and creating a business plan. There is even a checklist to get you started.

Keitt also suggests visiting your local library to research information about your business. "I've spent countless hours using all of the 'free' resources available at my library up the street," she says.

Vernon recommends networking and looking for an investor or partner to finance your business – if you are willing to relinquish some control. "Proceed with caution if you plan on asking friends or relatives to invest in your business," she sas. "Sometimes the people closest to you may not make the perfect business partners, and money can complicate even the best of relationships."

Want to see more?

• Work-at-Home Balance: Moms Can Be Productive and Keep Baby Amused
• Meet the Mompreneurs: Women Who Have Started a Business During Pregnancy
• Working from Home: It's Not As Easy As It Looks
• Talk about it!